Early birds herald result season with good tidings
- Trouble mounts for Sreesanth as Mumbai cops gather more evidence
- SIT to seek Supreme Court guidance on Maya Kodnani death penalty issue
- Tamil Nadu police bans Yasin Malik-linked pro-Eelam public meeting
- Kings XI Punjab end IPL 2013 campaign with a win
- Narendra Modi: India losing sheen as agricultural nation
However, it's early days yet and industry continues to tread cautiously. Bajaj Auto MD Rajiv Bajaj, for example, believes the road ahead could be bumpy for a bit. Operating margins in manufacturing continue to be under pressure. At Exide, for instance, they crashed 170 basis point y-o-y while Hero Moto's gross margins were dented by 104 basis points and at Hindustan Zinc they fell 190 basis points. The software set remains optimistic; TCS MD & CEO N Chandrasekaran says the environment remains good and deal flow strong.
Nevertheless, what's remarkable about the quality of the bottom line this time around is that there's virtually no contribution from other income. Other income was higher by just 6% y-o-y whereas it rose more than 35% y-o-y in each of the three preceding quarters. Surprisingly, tax outflows are up just 10% y-o-y against the 13% y-o-y increase in the September quarter.
- Destitute, orphan students outclass rest in Andhra Class 10 exams
- To re-energise ties, PM wants to visit US, waits for confirmation
- NIA court says no terror link, frees 'Hizbul militant' Liyaqat on bail
- CBI arrests its coal allotments investigator on bribery charge
- ‘Cricketer-bookie Amit may have used Jiju to reach Sree’
- BCCI chief N Srinivasan says police must prove spot-fixing allegations